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Mass and Targeted Social Engineering: The Challenges in Detecting and Stopping Complex Fraud Schemes

Fraudsters are facing an increasingly robust barrier to brute force account takeover and impersonation attempts as digital identity and transaction monitoring solutions become more advanced. Scams are exploding in volume and complexity as a result and fast becoming the scourge of financial services and ecommerce merchants alike.

Authorized Push Payment Scams

APP Scams happen when a victim is tricked into transferring money to someone posing as a trusted payee. Learn how layered defense strategies can make a difference to lowering APP fraud rates.

Phishing Scams

Phishing is one of the most common and successful tactics that fraudsters use. Learn how combining digital identity, device intelligence and behavioral biometrics helps make stolen credentials used for phishing useless for fraudsters.

The Perfect Storm

Fraudsters are constantly looking for opportunities to make the most profit with the least possible risk and effort.
Digital identity data

Fast global digitization & data availability

faster payments

Growth of open banking, faster transfer and payments


Increase in automation and remote interactions


Weak point on the chain: the customer

Why Fraud Solutions Fall Short in Tackling Scams

Detecting a scam is particularly challenging when the payment is made by the genuine customer, coerced via a scam or targeted social engineering fraud. 

  • The end point of scams attacks is often financial services companies.  Other industries, such as media and telecom companies, are being targeted in the early stages of the same scam.  Fraudsters target these industries with strategies like phishing, vishing and smishing to obtain details about a consumer and their interactions. 
  • Fraudsters also take advantage of data readily available on the dark web from mass data breach incidents.
  • Stolen usernames and passwords are often validated before the scam happens. Fraudsters credential test the user’s data in their accounts in media, gaming and insurance companies, for example, to validate they are active username/password combinations.
  • The fraudster makes contact once they obtain enough data on a victim’s personal credentials. Fraudsters are well trained to sound extremely professional to readily convince the victim their account has been compromised.
  • The professional fraudster reassures the victim during the interactions by seamlessly confirming different levels of their personal data.
  • Victims are convinced to login to their personal accounts and make payments. Fraudsters often advise victims to add new beneficiaries that are linked to mule accounts.
  • The fraudster gains control over the destination accounts and access to the funds after the money transfers are complete. 
  • As faster payments evolve, it is hard to stop a transfer after it’s been confirmed. Complex mule account schemes split the money into lower values across multiple accounts, making the money trail of the scam very hard to trace.

Authentication and verification solutions alone will not detect abnormal activities, as the customers’ credentials are legitimate.

A holistic fraud solution with multiple layers of defense is the answer.

What do you want to focus on?

Data collection in near real time, with minimum
interference in the customer experience

Digital Identity Network

The LexisNexis® Digital Identity Network uses leading-edge technology to catch fraud before it happens and facilitates the successful transaction of business for genuine customers.

  • Identify compromised digital IDs within our network’s shared intelligence, and ongoing credential testing
  • Leverage payments account data, identifying high risk beneficiary accounts
  • Incorporate event and session data as the transaction occurs, third-party signals, and global intelligence into a single smart authentication framework, the result is a seamless, low-friction experience for the customer.

How can I detect a scam if the customer
credentials are genuine?

Behavior Biometrics

LexisNexis® Behavioral Biometrics provides an additional layer of defense to risk assessment without creating a negative user experience.

  • Separate human from non-human traffic like bots
  • Identify “good” trusted customers profiles
  • Reliably profile fraudsters
  • Detect session anomalies
  • Build trust relating to good customers
Device Intelligence
  • New device for user?
  • One device, many resets?
  • Recent successful login?
  • Previous confirmed fraud on device?
  • New location?
  • Proximity to home address?
  • Proxy/VPN?
  • Banking industry device regulation?
  • Correlation with user's usual login habits?

Professional Services: Bringing all data together to generate insights with our rules and policies to make risk appropriate decisions.

During a technical consulting engagement, experts from LexisNexis Risk Solutions support customers in the following ways:

  • Designing a solution to more accurately detect high-risk behavior
  • Delivering in an agile and fast-moving environment
  • Providing SME guidance to both technical and business resources
  • Ability to traverse complex organizations

The engagement and analytics team has a broad range of expertise, including:

  • Engagement Manager
  • Fraud Data Analyst
  • Data Scientist

That can engage with you on the following activities:

  • Strategy Review Workshops
  • Operational Improvements and Automation
  • General Consulting and Strategy Support
  • System Optimization Single Use Case
  • Quarterly Business Review (QBR)
  • Onsite support

 The goal is to have information exchange between the consortium members with  LexisNexis® ThreatMetrix as facilitator.

LexisNexis Consortiums It will enable ThreatMetrix® customers that share common goals, challenges or fraud risks within a specific industry and/or region to share negative and positive data attributes in real-time, across an agreed set of consortium members and contributors.

We develop focussed groups across different industries for risk decisioning, and members can operationalize the shared information by configuring rules at consortium level within LexisNexis® ThreatMetrix policies, enabling more targeted real-time risk assessments, while maintaining logical separation of consortium member data.

By adopting the technology risk assessment tools, leveraging the global digital identity intelligence, utilizing behavior biometric as an additional detection and authentication layer, and having a smart deployment with the support of our team of experts, your company will be surrounded by best-in-class fraud prevention solutions.

But as mentioned before, there is one weak element to this chain, which is the customer. Keeping a constant communication with your customers so they are alert to scams attempts can also make an important difference in your fraud rates.

LexisNexis Risk Solutions promotes Customer Advisory Boards within our clients, where we share the latest trends and predictions in trust and risk, product enhancements, and our clients are free to share best practices and processes they have in place for fighting fraud.

LexisNexis® Digital Identity Network

Harness the power of global shared intelligence

The LexisNexis® Digital Identity Network® gives businesses the ability to detect and block complex fraud while a transaction occurs and seamlessly facilitate successful journeys for trusted customers.

  • The LexisNexis Digital Identity Network leverages massive amounts of data from about 2.5 billion digital IDs, 75 billion yearly transactions and 8.5 billion devices.
  • Integrated approach—When you incorporate real time event and session data, third-party signals and global intelligence into a single smart authentication framework, the result is a seamless, low-friction experience for the customer.
  • Advanced behavioral analytics and machine learning—The analysis of dynamic user behavior helps to build more accurate risk models, resulting in fewer false positives and the lowest possible fraud levels.
  • Privacy—Using tokenization, you get a dynamic risk assessment of identities while ensuring customer data remains confidential.
  • Fast, easy deployment—A cloud-based solution that provides simple and straightforward integration with existing systems.
Digital Identity Network

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